Considering an applicant for financial aid

Assignment Help Financial Management

Reference no: EM131452798

1. An official in the financial office is considering an applicant for financial aid. The officer uses the following process. If the student has a GPA in the 90th percentile among the admis-sion group, 5 points are added. If the student has an ACT or SAT score in the 90th percentile among the admission group, 5 points are added. If the student comes from a family whose cumulative household income was less than $60,000/year for the last 3 years, 8 points are added. If the student is from out of state, 5 points are added. What variables are being used to determine eligibility for this financial aid? What would your approximate score be on this scale? Is it best described as an index or a composite scale? Explain your response.

2. Indicate whether the following measures use a nominal, ordinal, interval, or ratio scale:

a. Prices on the stock market

b. Marital status, classified as “married” or “not married”

c. Whether a respondent has ever been unemployed

d. Professorial rank: assistant professor, associate professor, or professor

e. Course grades: A, B, C, D, or F

f. Blood-alcohol content

g. Number of Facebook friends

h. The color of one’s eyes

i. The size of one’s pupils

j. Time spent per day using a smartphone or tablet?

Reference no: EM131452798

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